I need help with UML Class Diagrams and UML Activity Diagrams. Please!!
Problem 2 (10 points). Part 1. You are a new graduate of the University of Houston-Clear Lake and you just landed your first job earning about $60K/year. You vaguely recall one of your professors saying, "You should start investing with your first paycheck." He said something like, "10% or $500.00 a month for 40 years and you would be a millionaire." Use the Problem Solving Process to develop a Java Application that you will use to calculate the compounding interest with a for loop. You will use an interest rate of 6% (.06) and start with a principal investment total of $2000.00 (That is what's left from graduation gifts after putting money down on a new car). You will run your code for 40 years and output annual totals.
Your compounding interest equation should look something like: Total = (Total + (Monthly * 12)) * (IntRate + 1).
Please write your application so that you can change the interest rate, allow for a different initial principal investment, and output the total amounts invested versus the total amount earned. (Note: Principal = Total for the first iteration).
Test 1: Principal = $2000.00, Monthly = $500.00, IntRate = 0.06, Years = 40.
Test 2: Principal = $2000.00, Monthly = $500.00, IntRate = 0.06, Years = 30.
Test 3: Principal = $0.00, Monthly = $500.00, IntRate = 0.04, Years = 40.